Bitcoin ETF Outflows Hit $371M as Market Extends its Dips

Bitcoin Spot ETFs saw $371M in outflows, bringing total assets to $92.84B as market volatility continued.

BlackRock’s IBIT ETF lost $151.26M in daily outflows but kept $39.33B in inflows, showing shifting investor activity.

Bitcoin dropped to $80,929.48, with ETF withdrawals influencing prices, while Ethereum slid 3.29% to $1,841.56.

Bitcoin Spot ETFs saw major net outflows, reflecting shifting investor activity amid market fluctuations. The total cryptocurrency market capitalization declined to $2.738 trillion, while Bitcoin’s price fell to $80,929.48.

ETF Outflows and Market Performance

According to the SoSoValue update, Bitcoin’s 24-hour trading volume reached $134.97 billion as multiple ETFs reported withdrawals. The total daily net outflow for U.S. Bitcoin Spot ETFs amounted to $371 million. Despite this, cumulative inflows remained at $35.40 billion, showing continued investor participation.

BlackRock’s IBIT ETF on NASDAQ had a $151.26 million daily net outflow with $39.33 billion in net inflows. The fund’s net assets were $47.28 billion, or 2.88% of the market cap of Bitcoin. Its market price fell 2.67% to $45.98, with a trading volume of 14.46 million shares.

Fidelity’s FBTC ETF, listed on CBOE, experienced a daily net outflow of $107.10 million, reducing total net assets to $16.23 billion. The ETF’s market price dropped 2.63% to $70.61, with 1.37 million shares exchanged.

Market Trends and ETF Performance

Grayscale’s GBTC ETF, traded on NYSE, saw a net outflow of $35.49 million, bringing cumulative outflows to $22.48 billion. The ETF’s market price fell 2.65% to $63.96, with 851.13K shares traded. Ark Invest’s ARKB ETF reported no inflows or outflows, maintaining total net assets of $3.83 billion.

The broader ETF market showed ongoing volatility. Bitcoin Spot ETFs hold total net assets of $92.84 billion, making up 5.65% of Bitcoin’s market capitalization. The total trading value for these ETFs reached $3.07 billion on March 11. The continued withdrawals contributed to Bitcoin’s declining price, while Ethereum also fell 3.29% to $1,841.56.

The post Bitcoin ETF Outflows Hit $371M as Market Extends its Dips appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.